Norway's producer prices rose by 4.9 percent year-on-year in January 2019, easing from a downwardly revised 7.7 percent increase in the previous month. It was the lowest producer inflation rate since February, as prices rose at a softer pace for extraction of oil and natural gas (2.7 percent vs 8.7 percent in December) and manufacturing (2.2 percent vs 3.7 percent). At the same time, water supply inflation was unchanged at 11.3 percent, while cost went up faster for both mining & quarrying (6.7 percent vs 5 percent) and electricity, gas & steam (48.9 percent vs 47.2 percent). On a monthly basis, producer prices went up 0.3 percent in January, following a revised 3.6 percent fall in December. Producer Prices Change in Norway averaged 5.99 percent from 2000 until 2019, reaching an all time high of 33.90 percent in August of 2008 and a record low of -18.70 percent in November of 2001.
Producer Prices Change in Norway is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Norway to stand at 3.60 in 12 months time. In the long-term, the Norway Producer Prices Change is projected to trend around 3.20 percent in 2020, according to our econometric models.